The price of petrol has fallen, while diesel and kerosene prices have increased, as approved by the Tonga Competent Authority for November – December, starting on 16 November 2018.

Wholesale petrol will decrease by 3.26 seniti/litre, while kerosene and diesel will increase by 6.00 seniti/litre and 5.27 seniti/litre respectively.

The retail price for petrol, kerosene and diesel for Tongatapu are 291.01seniti/litre, 224.93seniti/litre and 307.27seniti/litre respectively, and for Vava'u, petrol costs 296.21seniti/litre, kerosene 230.13seniti/litre, and diesel 312.47seniti/litre.

The Ministry of Commerce, Consumer, Trade, Innovation and Labour said petrol prices fell due to plentiful supply and increased stock levels in Singapore, however diesel and kerosene prices rose ahead of crude supported by increased demand in China and reduced exports from the Asia Pacific region. Diesel prices reached a five year high in October. 

Comparing the October 2018 month average prices with September:

• Crude oil (Dated Brent) was up by USD 2.30/bbl (2.9%); 
• Petrol was down by USD 1.86/bbl (2.1%); 
• Jet was up by USD 3.47/bbl (3.8%); and 
• Diesel was up by USD 3.04/bbl (3.3%). 

Crude oil prices rose to a high of USD86/bbl on 4 October (Dated Brent), but eased during the rest of the month. Global supplies remain tight due to the US sanctions on Iran, further compounded by continued Venezuelan production disruptions and pipeline constraints in the US which is supporting crude oil prices.

Lower demand growth forecasts by the International Energy Agency (IEA) (due to the price increases this year) and expectations of increased US production have contributed to this falling price. Comments from Saudi Arabia that OPEC can meet rising demand as well as rising production in Russia further contributed to lower crude oil prices.